United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New $724,000 Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,400 shares of the asset manager’s stock, valued at approximately $724,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in T. Rowe Price Group by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock valued at $2,947,559,000 after acquiring an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in T. Rowe Price Group by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after purchasing an additional 346,369 shares during the last quarter. Geode Capital Management LLC boosted its position in T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after buying an additional 25,481 shares in the last quarter. Provident Trust Co. grew its stake in T. Rowe Price Group by 8.9% during the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after buying an additional 213,566 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of T. Rowe Price Group by 0.5% during the fourth quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager’s stock worth $211,529,000 after buying an additional 8,992 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Barclays lowered their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Wells Fargo & Company lowered their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Morgan Stanley reduced their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $95.47 on Wednesday. The firm’s fifty day moving average price is $105.77 and its two-hundred day moving average price is $111.13. The company has a market cap of $21.25 billion, a P/E ratio of 10.42, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a one year low of $91.37 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the firm posted $1.72 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.32%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.46%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.